India Extends USD 100 Million Line of Credit to Mauritius

In New

India on 22nd February extended a USD 100 million Line of Credit to Mauritius to ease the procurement of Indian defence equipment.

About

India and Mauritius signed a Comprehensive Economic Cooperation Partnership Agreement that extended a USD 100 million Line of Credit to Mauritius.

Mauritius is one of India’s dominant maritime neighbours in the Indian Ocean Region and owns a special place in the Prime Minister’s vision of ‘SAGAR’ (Security and Growth for All in the Region).

An agreement was also signed to provide for a Dornier aircraft and an Advanced Light Helicopter Dhruv on lease to Mauritius on gratis basis for two years, helping bolster its ability to patrol and watch its vast maritime domain more successfully.

This is a first agreement by India that has been made to an African country. It is expected to boost the revival of economies in the post COVID period and also empower Indian investors to use Mauritius as a launch board for business expansion. Over 100,000 extra doses of Indian made COVID vaccines were also given to Mauritius.

India has also completed its all five developmental projects under the Special Economic Package. These projects were phase I of the Metro Express project, the new Supreme Court building, the new ENT hospital, the supply of electronic tablets for Mauritian school children and 956 Social Housing Units. India also discussed the issue of Chagos Archipelago and extended its full support as it has always been.

SAGAR

Security and Growth for All in the Region (SAGAR) is India's policy or doctrine of maritime cooperation in the Indian Ocean region. This program was unveiled in 2015 through which India seeks to strengthen its economic and security cooperation with its maritime neighbors.